NEW DELHI: The primary market is witnessing a lot of activity in September with as many as 12 domestic companies expected to raise over Rs 10,000 crore during the month. The biggest of them is JSW Infrastructure, which plans to raise Rs 2,800 crore. The others are Yatra Online, Zaggle Prepaid Services and Samhi Hotels.
Sajjan Jindal Family Trust-backed JSW Infrastructure, which plans to raise Rs 2,800 crore via the sale of shares to the public, plans to use part of the proceeds (Rs 880 crore) in paying off debts, and about Rs 1,180 crore towards capacity expansion and capex. The company is likely to announce the price band and subscription dates on Monday.
Yatra Online plans to raise Rs 775 crore, of which Rs 602 crore would be through fresh issue of shares while the rest would be through offer for sale. The price ban on the issue has been fixed at Rs 135-142. The subscription for Yatra’s IPO opened on September 15 and will on September 20.
While recommending investors to subscribe to the IPO for the long term, brokerage firm Anand Rathi says at an upper band, the company is valued at a price-to-equity ratio of 219x while on market cap/sales, it is valued at 5.8x post-issue of equity shares compared to its peer (Easy trip planners - 15.7x) on FY23 basis.
Samhi Hotels, a branded hotel ownership and asset management platform, is planning to raise Rs 1,370 crore. The IPO price band is fixed at Rs 119-126. The subscription for the IPO closes on September 18. Zaggle Prepaid plans to raise Rs 563 crore with an IPO price band of Rs 156-164. The subscription closes on Monday. RR Kabel, which seeks to raise Rs 1,964 crore, saw its IPO subscribed 18.69 times. The subscription ended on Friday. Jupiter Life Line Hospitals raised Rs 869 crore from the IPO, which comprised a fresh issue of Rs 542 crore and an offer for sale (OFS) worth Rs 327 crore.